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NEW YORK (TheStreet) -- Coffee prices continue to rocket higher because of traders' concerns over dry conditions in Brazil. TheStreet's Debra Borchardt said Arabica coffee beans are up 9% on Wednesday, the largest one-day gain since November 2004.

Coffee prices have rapidly risen 38% year-to-date, to a 13-month high of $1.5265 per pound.

Brazil, the world's largest supplier of coffee, has already lost 5% of this year's crop due to the extremely dry conditions experienced at the start of the growing season, Borchardt said.

A few ways investors can play along are through the iPath Dow Jones-UBS Coffee Subindex Total Return ETN (JO), which is up more than 18% in the past two days, and through the iPath Pure Beta Coffee ETN (CAFE), which is up by roughly the same percentage in the same period.

However, despite the jump in coffee prices, consumers are unlikely to feel the pinch just yet.

Borchardt pointed out Starbucks (SBUX), Dunkin' Brands (DNKN) and Green Mountain Coffee Roaster (GMCR) buy their coffee beans in advance to avoid the volatility from short-term market swings. These big buyers won't be back in the coffee market for several months, by which time things might have settled down, she said.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.